(ĐN)- Trade ministers from the 12 Trans-Pacific Partnership (TPP) member countries reached final consensus on the world's largest free trade agreement on October 5 after more than five years of negotiations.
(ĐN)- Trade ministers from the 12 Trans-Pacific Partnership (TPP) member countries reached final consensus on the world’s largest free trade agreement on October 5 after more than five years of negotiations.
Once it comes into effect, it will delineate the world’s largest free trade area with a population of 800 million people, representing about 40 percent of the global gross domestic product and 30 percent of the global trade turnover.
For Vietnam, as an active member of the international community, participating in an important regional structure like TPP will help the country take full advantage of opportunities brought by regional and international restructuring and international economic integration.
However, it also means that Vietnamese businesses will face challenges, including pressure on market openings and fierce competitiveness, requiring them to be well-prepared.
Chairman of the Viet Nong Lam J.S Company Ho Sau in Dong Nai province’s Trang Bom district said the TPP is hoped to create numerous benefits for animal feed processing enterprises, especially in export activities thanks to preferential tariffs. Nevertheless, businesses should actively surmount their difficulties to increase their competitiveness, invest in upgrading technologies rather than simply relying on support policies and preferential tariffs to increase productivity, reduce production costs and ensure quality.
Vice Chairman of the Southeast Livestock Association Le Van Quyet said that Vietnam will have chances to buy modern livestock rearing methods and good quality breeds from other TPP members, helping advance the country’s livestock sector. However, the sector still needs to map out immediate tasks to enhance the sector’s competitiveness. Accordingly, further efforts should be made to cut irrelevant fees and costs, develop technical barriers in line with international practices and expand markets for domestic products. He also called for improved connections among producers, processers and consumers.
Reported by P.V
